Bamco Inc. NY Increases Position in SailPoint, Inc. $SAIL

Bamco Inc. NY increased its holdings in SailPoint, Inc. (NASDAQ:SAIL) by 29.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,106,568 shares of the company’s stock after purchasing an additional 250,675 shares during the quarter. Bamco Inc. NY owned 0.20% of SailPoint worth $24,433,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SAIL. Aster Capital Management DIFC Ltd purchased a new stake in shares of SailPoint in the third quarter valued at approximately $31,000. Loomis Sayles & Co. L P purchased a new position in shares of SailPoint during the 2nd quarter valued at approximately $42,000. State of Wyoming acquired a new stake in SailPoint in the 2nd quarter valued at $45,000. BNP Paribas Financial Markets acquired a new stake in SailPoint in the 2nd quarter valued at $79,000. Finally, California State Teachers Retirement System purchased a new stake in SailPoint in the 2nd quarter worth $87,000.

Insider Buying and Selling

In other news, General Counsel Christopher Schmitt sold 11,908 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $19.23, for a total value of $228,990.84. Following the completion of the sale, the general counsel directly owned 1,057,956 shares in the company, valued at $20,344,493.88. This represents a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Matt Mills sold 21,345 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $19.23, for a total value of $410,464.35. Following the completion of the sale, the president directly owned 1,882,913 shares of the company’s stock, valued at approximately $36,208,416.99. This represents a 1.12% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 354,243 shares of company stock valued at $6,924,823.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SAIL. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of SailPoint in a report on Wednesday, December 3rd. TD Cowen cut their target price on shares of SailPoint from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Scotiabank decreased their price target on shares of SailPoint from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, December 10th. The Goldman Sachs Group lowered their price objective on SailPoint from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, January 28th. Finally, Truist Financial lowered their price target on SailPoint from $29.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.59.

SailPoint Trading Down 0.2%

SAIL opened at $15.45 on Monday. SailPoint, Inc. has a twelve month low of $12.81 and a twelve month high of $24.95. The firm has a market capitalization of $8.68 billion and a PE ratio of -3.23. The firm’s 50-day moving average price is $16.27 and its 200 day moving average price is $19.32.

SailPoint Company Profile

SailPoint Technologies Holdings, Inc (NASDAQ: SAIL) is a leading provider of enterprise identity governance solutions that enable organizations to manage and secure user access across on-premises, cloud and hybrid IT environments. Its software automates identity lifecycle management, access certifications, policy enforcement and privileged account governance, helping enterprises reduce security risks, maintain regulatory compliance and streamline IT operations. The company’s flagship offerings include IdentityIQ, a comprehensive on-premises platform, and IdentityNow, a cloud-native identity governance-as-a-service solution.

Founded in 2005 by industry veterans Mark McClain and Kevin Cunningham, SailPoint is headquartered in Austin, Texas.